Many people think of a guardianship as an individual, usually a family member, caring for an incapacitated person. However, the real use of guardianship may include an elderly or minor family member as well. Regardless of your need to appoint a guardian, TrustAttorneyOnline.com is the right place to come. We feature top rated attorneys from your area that we can connect you to, so that you may begin generating the necessary documentation.
How is a Trust and a Guardianship Different?
Both ensure that the distribution of your assets occur how you want them to after you pass, but in the event of incapacitated individuals, such as mentally or physically disabled, minors, or elderly, a guardianship appoints a ward to care for the incapacitated person(s). In the event of a guardianship, it will end after a minor reaches the age of majority (18 years old), and trusts may continue indefinitely.
Other ways a Guardianship is Different than a Trust:
- Court file is a public record
- Costs are significantly more, including annual accounting to be filed with the court
- Guardians are appointed to exercise the legal rights of an incapacitated person
Benefits of a Trust Include
- Broader powers
- Trust is private and usually cost much less
- Control over the preservation of wealth
- Trustor designates the Trustee and no Court approval is required